Superdry points finger at warm weather for cooling winter sales

Superdry suffered a dip in sales over the crucial Christmas trading period, citing unseasonably warm weather for a fall in demand for the fashion group’s flagship Japanese winter hoodies.

The British fashion group, which has seen its shares crash 70 per cent in the last 12 months, said its performance in the three months to 26 January had been "subdued", with a fall in both its online and in-store sales.

Group sales at the retailer slipped 1.5 per cent to £269m during the quarter, falling from £273m when compared with the same period in the previous year.

Online sales dipped by 0.7 per cent while store sales tumbled 8.5 per cent.

However, Superdry, which cut its full-year profit expectations in the run-up to Christmas, said it had traded in line with City expectations for the quarter.

The news is likely to put added pressure on boss Euan Sutherland, who has come under repeated criticism from the fashion group's departed co-founder Julian Dunkerton.

Dunkerton has been eyeing a return to Superdry's board following a disagreement in opinion over the fashion outlet's product and internet strategy. 

Read more: Superdry braced for clash with former boss over quarterly results

Today Dunkerton reiterated his anger at Superdry, saying that the firm’s performance was "a damning indictment of Superdry’s misguided strategy".

Dunkerton added: "As shareholders, we continue to suffer unnecessary value destruction and I am absolutely committed to restoring the business and brand back to strength. How bad does it need to get? Action must be taken now."

Russ Mould, investment director at AJ Bell, said: "No doubt the reasonably mild winter, at least until more recently, contributed to weak trading given Superdry’s reliance on selling coats and heavier clothing. However, you have to question a strategy which leaves the company so at the mercy of fluctuations in the weather. All eyes will be on Dunkerton now and what his next move might be."